Silver Just Breached This Major Moving Average Level

The Hourly View for Silver

  • At the moment, XAGUSD’s price is up $0.03 (0.11%) from the hour prior.
  • This move is a reversal from the hour prior, which saw price move down.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe.
  • Of note is that the 20 and 50 hour changed directions on XAGUSD; they are now pointing down. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Silver’s hourly price chart is shown below.

XAGUSD

The Daily View for Silver

  • At the moment, XAGUSD’s price is down $-0.14 (-0.53%) from the day prior.
  • Silver has seen its price go up 4 out of the past 5 days, thus creating some compelling opportunities for bulls.
  • As for the trend on the daily timeframe, we see the clearest trend on the 20 day timeframe.
  • Most noteworthy in the world of moving averages on the daily chart is that the 100 day moving average has been crossed, with price now being below it. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Below is a daily price chart of Silver.

XAGUSD

Featured Silver Idea From TradingView

Below is a trading comment entitled Silver Is Under Pressure At The Beginning Of The Week you may find interesting:

Silver declined below the support at $25.85 and made an attempt to settle below the next support which is located at the 50 EMA at $25.65.If silver manages to settle below the 50 EMA, it will head towards the next support which is located at $25.55. A move below this level will open the way to the test of th…

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